Exporters Optimistic Over Move on Currency
By STEVEN GREENHOUSE and STEPHANIE CLIFFORD
June 21, 2010
Embracing China?s decision to let its currency move more freely, American businesses said on Monday that the move would make it easier to compete against Chinese companies and would help reduce the United States trade deficit.
They cautioned, though, that the rise in the currency, the renminbi, is expected to be gradual, even if many American economists say it is 20 to 40 percent undervalued.
SGI, a California company that makes servers and data storage equipment, looks forward to extra business.
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